photo by angela n.
From the Office of the Chief Financial Officer:
Moody’s Affirms DC Aaa Ratings November 2023 (PDF)
Rating_Action-Moodys-changes-outlook (PDF)
From Council Chairman Phil Mendelson:
“DC Council Chairman Phil Mendelson issued the following statement in response to Credit Rating Agency downgrade:
“Today’s decision by Moody’s to change its rating outlook from ‘stable’ to ‘negative’ is further evidence of how Congressional oversight and lack of Statehood actually hurts the District.
Only a few months ago, House members criticized the District for alleged fiscal mismanagement, but Moody’s actually lauds the District, while wholly faulting Congress for the negative change.
“It’s easy to castigate the District when none of us can vote for Congressional members. But the District government is well-managed fiscally – better than most states, which Moody’s acknowledges. Moody’s notes that our financial challenges are whimsical federal government shutdowns and the Congressionally imposed commuter-tax prohibition.
“I would add that Congressional riders such as prohibiting us from regulating cannabis, cutting MPD’s request for federal reimbursement, and proposing to prohibit traffic cameras, create further financial instability and economic harm.
“The message is clear: Congress over and over hurts the District. They should own it, not blame us.”